8 elements of internal audit charter

8 elements of internal audit charter

The internal audit charter is a formal document that defines the internal audit activity’s purpose, authority and responsibility

The following are elements of the internal audit charter

  • The purpose of the internal audit activity
  • The scope of the internal audit activities
  • The responsibilities of the internal audit activity
  • The relationship and coordination with the external auditor
  • The audit plan
  • The
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internal audit – meaning

internal audit is defined as an independent appraisal activity within an organisation for the review of accounting, financial and other controls as a basis of service to management. It is the managerial control which functions by measuring the effectiveness of other controls. Internal auditor is an employee of the organisation and is responsible to its management. Internal auditor requires a … Read the rest

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What are the duties of the internal auditor?

Internal auditors are the person hired or employed by the organization, to help monitor organization internal control and help the management of the organization manage risk facing the organization. The duties of the internal auditor depend on the nature of organization activities since the auditor is hired or employed by the organization to ensure that the organization achieves its strategic … Read the rest